UBS lowered its price target for The Trade Desk to $15 from $16. The firm cited a weaker advertising budget landscape and growing competition from Amazon. Ad checks suggested some spending shifted from The Trade Desk to Amazon's advertising platform.
UBS maintained its "Buy" rating on the stock. Investors noted the firm's continued confidence. Shares of The Trade Desk rallied on October 15. This rally followed a period of significant stock decline. Market commentary suggested the reiterated "Buy" rating signaled that the stock's recent weakness may be overdone.